The 2016 vision of a perfect sustainability market emphasized integrating environmental, social, and governance (ESG) factors into core economic systems. It advocated transparent pricing of externalities like carbon emissions and resource depletion. The model encouraged circular economies, renewable energy adoption, and inclusive growth. Collaboration between governments, businesses, and communities was seen as vital to fostering resilience and equitable market practices.

Abhijit, thank you for taking the time to comment.

I published a series of articles on perfect market thinking and competition in 2016 and after to provide a ways to correct the distorted vision embedded in traditional market thinking since 1776 when Adam Smith's gifted us the theory of the perfect traditional market, this paper here articulates a full correction in terms of social and environmental externality issues.... and once this correction is done, then you have a path from perfect sustainability markets to fully clean markets....

You may also find the following article interesting so I am sharing it here;

Sustainability thoughts 141: Using the golden trojan paradigm theory to point out the structure and current implications of partial solutions and full solutions to the development problems detailed by the WCED in 1987

Article Sustainability thoughts 141: Using the golden trojan paradig...

As known, the main blow of the global financial

and economic crisis occurred in 2009, which began

with the US mortgage market, and then

spread to the whole world. By some estimates,

the crisis was the deepest since the Great Depression

of the 1930s. The crisis affected all countries,

including the Republic of Armenia. Neither

the country‟s government nor the private sectors

were prepared for this unprecedented crisis. In

such circumstances, sound debt management

plays an important role in process of public sector

financial management. This obtains more importance

for countries with small and open economies,

when the domestic economy has limited

resources, and the government is forced to raise

debt to implement a fiscal policy conducive to

economic growth.

Therefore, in such a situation, the government

should be sure that the borrowing policy in the

future will not lead to an unstable situation, will

not increase financing costs to an unacceptable

and extreme level, or will not make the country

vulnerable to the development of the external

world. This requires the implementation of an

effective debt management system, which under

favorable conditions can reduce negative impacts

and mitigate potential risks.

Ani, I see you perhaps did not take a look at the perfect sustainability market article before commenting as your comment is about the workings of imperfect financial markets, but your comment is relevant as it can be seen from the opposite side imperfect sustainability markets...

But deb management or any type of management of a crisis without FIXING THE ROOTCAUSE of the crisis like with the 2008/2009 financial crisis means soon we will be in the situation "HERE WE GO AGAIN"....

Thank you for taking the time to write

Ani, given your comment, you may find some good food for thoughts in the following article:

Beyond Traditional Financial Market Thinking: How An Ideal Financial Market Structure Would Look Like After Ending the Traditional Market Monopoly?

Article Beyond Traditional Financial Market Thinking: How Would An I...

Data Beyond Traditional Financial Market Thinking: How An Ideal F...

Data Beyond Traditional Financial Market Thinking: How Would An I...